By Keith Loria, Contributing Editor
Leggat McCall Properties and its joint venture partner Multi-Employer Property Trust, have filed a Letter of Intent with the Boston Redevelopment Authority for 2.5 acres of land in the South End purchased from the Boston Medical Center in late 2014, to build a state-of-the-art multifamily residential project.
The $7.3 billion real estate equity fund, advised by Bentall Kennedy, hopes to bring approximately 700 new apartments to the growing Boston neighborhood, including affordable rentals designed to cater to a vital demographic in the city, in addition to market-rate units.
Located in the block between Harrison Avenue and Albany Street, and near East Dedham Street and East Canton Street, the proposed project will include two buildings ranging in height from 11 to 19 stories, and will include artist live/work space, and a gallery or restaurant use on the ground floor.
“The Harrison Avenue corridor is emerging as one of the city’s most sought after residential neighborhoods,” Bill Gause, Leggat McCall Properties’ executive vice president, said in a prepared statement. “We look forward to working with the neighbors to add more housing and street life to the area, as well as provide additional work space for local artists.”
The project will also increase public open space in the South End, providing a green promenade between the two residential buildings, as well as a pocket park next to the Gambro building on Harrison Avenue. The existing parking lot will be removed and replaced with underground parking. The existing building at 575 Albany St. will be rehabilitated and retained as part of the project.
The project will seek LEED certification, and the construction activity is expected to have a significant economic impact in the Boston metro area while creating green jobs for members of the Boston Building Trades.
The joint venture originally acquired the buildings at 660 and 720 Harrison Ave., 575 Albany, 100 East Canton, and 123 East Dedham in late 2014 as Boston Medical Center implemented a consolidation and renovation of its campus.